LeBron Scores $128M in Earnings for 2023-24

LeBron James has achieved a remarkable on-court career ever since his entry into the NBA in 2003 at the age of 18, earning himself the title of “The Chosen One.” Notable accomplishments include being the all-time leading scorer in the league, making 10 NBA finals appearances, winning four NBA titles, and being selected for the All-NBA first team 13 times.

However, James’ off-the-court success is equally astonishing. It is projected that his total career earnings from salaries and endorsements will reach a staggering $1.4 billion by the end of this season, placing him fourth among all-time highest-earning athletes, behind Michael Jordan, Tiger Woods, and Cristiano Ronaldo. James has strategically invested in various companies and even established a school in his hometown of Akron, Ohio.

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This season, James is expected to earn approximately $128 million, surpassing any other NBA player by a margin of 25%.

NBA superstars are reaping the benefits of skyrocketing player salaries and their ability to cultivate global brands. The top 15 highest earners in the NBA are projected to collectively earn over $1 billion this season, with approximately 34% of their income originating from off-the-court sources. Following James on the earnings list are Stephen Curry ($101.9 million), Giannis Antetokounmpo ($90.6 million), Kevin Durant ($88.4 million), and Klay Thompson ($64.2 million).

Both James and Curry continue to captivate audiences throughout their careers, having collectively won six MVP titles between 2008-09 and 2015-16, and making a combined 16 NBA Finals appearances. This sustained success on and off the court makes them highly attractive to marketers, with James estimated to earn $80 million and Curry $50 million from off-court ventures, making them the highest-earning athletes in the sport.

The Los Angeles Lakers and Golden State Warriors, despite their inconsistent regular seasons, managed to secure playoff berths last year. The anticipation surrounding their first-round series victories made their subsequent head-to-head matchup the most-watched semifinal series in nearly three decades.

James’ endorsement portfolio boasts collaborations with AT&T, Beats, Crypto.com, GMC, and PepsiCo, whereas Curry promotes brands such as Callaway, CarMax, Rakuten, and Subway. Like many NBA stars, their most significant deals stem from their shoe contracts. In 2019, James signed a lifelong agreement with Nike worth over $30 million annually. Curry, on the other hand, recently extended his partnership with Under Armour and assumed the role of president for UA’s Curry Brand. As part of this deal, he was awarded restricted stock units valued at $75 million, which will vest in 2029 and 2034.

James, Curry, and Durant have transitioned beyond mere endorsement earnings, delving into multifaceted business ventures. James’ most significant asset is SpringHill Company, which encompasses SpringHill Entertainment (a production company), Uninterrupted (a media platform), and Robot (a brand consultancy). In 2021, SpringHill sold a minority stake valued at $725 million to a consortium led by RedBird Capital Partners.

In 2018, Curry established Unanimous Media, focusing on content revolving around “family, faith, and sports.” He also launched “Underrated Tours” for basketball and golf, providing overlooked young talents a platform to showcase their skills. Additionally, Curry entered the spirits market this year with his own Kentucky Straight Bourbon brand, Gentleman’s Cut. Similarly, in 2020, James ventured into the spirits industry by investing in Lobos 1707 Tequila.

Kevin Durant recently joined the exclusive group of NBA players with a lifetime contract from Nike, alongside LeBron James and Michael Jordan. In 2016, Durant co-founded 35V with business partner Rich Kleiman. Their media network, Boardroom, covers various sports, entertainment, and cultural aspects. Durant’s sports-focused investments include Athletes Unlimited, Gotham FC, League One Volleyball, Philadelphia Union, Premier Lacrosse League, National Cycling League, Major League Pickleball, and TMRW Sports.

Despite the buzz around French prodigy Victor Wembanyama as the NBA season commences, it may take several years for him to reach the top earners’ list. The NBA implements a salary cap, limiting individual salaries. As a result, rookie contracts fall far short of what players can earn in their second deals. Wembanyama is set to earn $55 million over the next four years, while players like Anthony Edwards, LaMelo Ball, and Tyrese Haliburton from the 2020 draft class signed five-year extensions this summer worth $206 million each, potentially reaching $250 million based on their performance this season.

The NBA’s salary cap directly correlates with revenues, with players entitled to half of the total revenue. The highest bracket of contracts is known as the “supermax” deal, which grants players 35% of the cap if they have at least 10 years of experience or have received certain leaguewide accolades after seven years in the league.

Boston Celtics’ Jaylen Brown became eligible for a supermax extension following his inclusion in the All-NBA second team last season. He recently signed a record-breaking five-year, $288 million agreement, which will take effect next season. Brown’s teammate, Jayson Tatum, will likely secure an even larger supermax deal next summer as the salary cap increases.

This season, 42 NBA players are expected to earn at least $30 million in base salary, excluding bonuses and incentives. Stephen Curry leads the pack with an annual income of $51.9 million. By comparison, the NFL has 15 players earning $30 million or more, while MLB has 14.

Methodology

Sportico estimated the off-court earnings for the 2023-24 NBA season through consultations with individuals knowledgeable about NBA endorsement deals. The calculation includes sneaker deal royalties, earnings from memorabilia, appearances, media, and businesses associated with the players’ celebrity. Investment income was excluded unless it was tied to an endorsement agreement. All figures are pre-tax and do not consider any agent fees.

The salaries mentioned are base salaries for the season and do not account for playoff bonuses or incentives. Most of these players are on maximum-level contracts, which typically do not include incentives. Additionally, the 10% escrow payments withheld from contracts, as stipulated in the collective bargaining agreement to ensure proper revenue sharing, were not deducted. In non-COVID-19 impacted seasons, a significant portion of the escrow account is often returned to the players as league revenue continues to soar.

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